Icebank Fixed Savings account PLEASE HELP!!!!

£uckless

Having just sold my property and retired I put well over £35,000 in Icesave 6 month fixed savings account. I see on the terms and conditions this money cannot be withdrawn until the end of the term, which is the end of November. Is there anything I can do now to transfer my money elsewhere in 35K bits to secure it?
I feel very isolated and anxious as I can't find other people in the same boat or know what they have done and I stand to loose my lifesavings.

isofa

No it's a fixed term account and withdrawals are only permitted at the end of the term.

I've money in Icelandic banks, and I'm not unduly worried.

ad44downey

Calm down. Has any saver lost a penny so far?

Leave your money where it is and relax.

luvpump

last night I changed my 6 month bond with Kaupthing edge to there instant access account with the loss of approx 1%, no problem !

isofa

luvpump wrote: »

last night I changed my 6 month bond with Kaupthing edge to there instant access account with the loss of approx 1%, no problem !

Because the KE T+Cs unusually permit this, the Icesave ones don't.

napoleon

£uckless wrote: »

Having just sold my property and retired I put well over £35,000 in Icesave 6 month fixed savings account. I see on the terms and conditions this money cannot be withdrawn until the end of the term, which is the end of November. Is there anything I can do now to transfer my money elsewhere in 35K bits to secure it?
I feel very isolated and anxious as I can't find other people in the same boat or know what they have done and I stand to loose my lifesavings.

You're doomed.

In fact, we're all doomed

isofa

napoleon wrote: »

You're doomed.
In fact, we're all doomed

Aye, should I get lunch, or just wait for the inevitable end now? :rolleyes:

I can't help reading the OPs name as £=F rather than £=L which I assume it was hoped for...

Primrose

We also have a savings account with Iceland, a one year bond and a two year bond and are not going to be panicked into thinking we're going to lose our money by a Newbie poster who has only posted four times on this site. There are plenty of level headed people who post regularly on here whose opinions I would rather take seriously. Shareholders in banks may have lost money on the value of their banking shares but nowhere have I yet read that any individual has lost any of their savings. Call me over optimistic, but I think national governments all have too much to lose to let that happen.

isofa

Primrose - totally agree. jp01 is spamming the forums with the same post, please report if you see them! I've reported several.

Jonbvn

jp01 wrote: »

Definately time to bail from Icesave.

There are better rates at FAR safer banks.

For those who don't think the absolute worst couldn't happen, well the collapse of Kaupthing was predicted way back in February 2008. See the link
ICELANDS BANKS ARE THE MOST RISKY IN THE DEVELOPED WORLD
http://!!!!!!!.com/timetobailfromicesave
See also more banks could go bust

The first domino in Iceland's debt laden banking industry has tumbled, raising questions over the health of its financial system
YOUVE BEEN WARNED

Do some basic research and then MOVE FAST.

The economy in Iceland is in a massive recession 3.7% last quarter alone, inflation is at 15% interest rate.

You've BEEN WARNED

Inflamatory unsubstantiated scaremongering post.

Frank2009

I think there is a £35,000 per person guarantee on deposits covered by FSA - no worries - right ?